Cary Street Partners Investment Advisory LLC Purchases 2,505 Shares of Netflix, Inc. (NASDAQ:NFLX)

Cary Street Partners Investment Advisory LLC boosted its position in Netflix, Inc. (NASDAQ:NFLX) by 129.7% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,436 shares of the Internet television network’s stock after purchasing an additional 2,505 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Netflix were worth $1,954,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Bank of Hawaii boosted its stake in Netflix by 19.0% in the second quarter. Bank of Hawaii now owns 5,290 shares of the Internet television network’s stock valued at $2,330,000 after acquiring an additional 846 shares during the last quarter. US Bancorp DE boosted its stake in Netflix by 8.8% in the second quarter. US Bancorp DE now owns 123,105 shares of the Internet television network’s stock valued at $54,227,000 after acquiring an additional 9,921 shares during the last quarter. Moors & Cabot Inc. boosted its stake in Netflix by 44.3% in the second quarter. Moors & Cabot Inc. now owns 2,621 shares of the Internet television network’s stock valued at $1,155,000 after acquiring an additional 805 shares during the last quarter. Trillium Asset Management LLC purchased a new position in Netflix in the second quarter valued at about $200,000. Finally, Nwam LLC boosted its stake in Netflix by 39.2% in the second quarter. Nwam LLC now owns 1,538 shares of the Internet television network’s stock valued at $678,000 after acquiring an additional 433 shares during the last quarter. 79.95% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NFLX shares. Rosenblatt Securities boosted their target price on shares of Netflix from $400.00 to $404.00 and gave the company a “neutral” rating in a research note on Thursday, October 19th. Wedbush restated an “outperform” rating and set a $525.00 price target on shares of Netflix in a research note on Thursday, October 19th. DZ Bank upgraded shares of Netflix from a “hold” rating to a “buy” rating and set a $465.00 price target on the stock in a research note on Friday, October 20th. TD Cowen dropped their price target on shares of Netflix from $515.00 to $500.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 11th. Finally, The Goldman Sachs Group dropped their price target on shares of Netflix from $400.00 to $390.00 and set a “neutral” rating on the stock in a research note on Monday, October 9th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-five have assigned a buy rating to the company. According to data from MarketBeat.com, Netflix currently has an average rating of “Moderate Buy” and a consensus target price of $441.20.

Insider Activity at Netflix

In related news, Director Richard N. Barton sold 500 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $443.07, for a total transaction of $221,535.00. Following the transaction, the director now owns 152 shares of the company’s stock, valued at approximately $67,346.64. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Netflix news, Chairman Reed Hastings sold 17,969 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $440.60, for a total value of $7,917,141.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Richard N. Barton sold 500 shares of the firm’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $443.07, for a total transaction of $221,535.00. Following the completion of the sale, the director now directly owns 152 shares in the company, valued at approximately $67,346.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 134,563 shares of company stock valued at $57,388,283. Insiders own 2.45% of the company’s stock.

Netflix Price Performance

NFLX stock opened at $465.91 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.29 and a current ratio of 1.29. Netflix, Inc. has a 52 week low of $273.41 and a 52 week high of $485.00. The firm’s fifty day moving average is $402.61 and its 200 day moving average is $408.78. The firm has a market cap of $203.92 billion, a P/E ratio of 46.50, a P/E/G ratio of 1.81 and a beta of 1.24.

Netflix (NASDAQ:NFLX) last released its earnings results on Wednesday, October 18th. The Internet television network reported $3.73 EPS for the quarter, beating the consensus estimate of $3.49 by $0.24. Netflix had a net margin of 13.82% and a return on equity of 20.68%. The company had revenue of $8.54 billion for the quarter, compared to analyst estimates of $8.54 billion. During the same quarter last year, the firm earned $3.10 EPS. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. Research analysts predict that Netflix, Inc. will post 12.09 earnings per share for the current year.

Netflix Company Profile

Netflix, Inc provides entertainment services. It offers TV series, documentaries, feature films, and mobile games across various genres and languages. The company provides members the ability to receive streaming content through a host of internet-connected devices, including TVs, digital video players, television set-top boxes, and mobile devices.